Nvidia’s results, Indian tariffs, French markets - what’s moving markets
In a recent transaction disclosed through an SEC filing, Canopy Growth Corp (NASDAQ:CGC) director David Angelo Lazzarato sold 3,004 common shares of the company. The shares were sold at a price of $0.92 each, totaling approximately $2,763. Following this transaction, Lazzarato holds 22,886 shares directly. The sale comes as the stock, currently trading at $1.05, has experienced significant pressure, down nearly 88% over the past year. According to InvestingPro analysis, the company’s market capitalization stands at $166 million, with a "Fair" overall financial health score.
The disposition of these shares is linked to tax obligations related to the vesting of restricted stock units (RSUs) granted to Lazzarato on June 10, 2024. This sale comes as part of routine financial planning for the director, as noted in the filing. InvestingPro analysis reveals 12 additional key insights about CGC’s performance and outlook, including crucial metrics about the company’s financial health and market position. Access the comprehensive Pro Research Report for detailed analysis of what really matters for CGC’s future prospects.
In other recent news, Canopy Growth Corporation has unveiled two new flavors in its Deep Space Propulsion beverage line: Rocket Root Beer and Charged Cream Soda. These beverages, containing 10mg of THC and 10mg of CBG per can, are now available to Canadian consumers. Roth/MKM has maintained a Buy rating for Canopy Growth, although it has lowered the stock price target to C$10 from C$15. The firm noted Canopy Growth’s progress towards achieving a break-even adjusted EBITDA, highlighting its expansion in Poland and Germany as key factors for growth.
Meanwhile, the cannabis sector has faced challenges due to newly imposed tariffs by President Donald Trump on Canada, impacting companies like Canopy Growth. These tariffs have raised concerns about increased costs and potential disruptions in the supply chains of Canadian cannabis operators. Investors have reacted to these developments with caution, reflecting worries about the financial impact on the industry. Despite these challenges, Canopy Growth continues to focus on its core business operations and international expansion efforts.
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